CronosOne of the best cannabis stock to invest here. Buy the gap you'll see today, it might go as low as 15$ or 14.50$. First target price 17$.
7CI trade ideas
$CRON: Long term swing trade (1-2 year hold)Disclaimer: This trade is only for the patient.
- After a few weeks of consolidation, a safe entry can be initiated.
- Weekly cloud is thick in volume showing bullish trend is intact.
- $CRON has significant advantage over their piers having a helping hand from $MO (Altria). With their cigarette distribution system, 1.8 billion investment & connections to more potential partners, $CRON is set to go to the moon.
An analysis, not financial advice.
CRON trying...8 and 26 EMA crossed bullish on the 4hr chart. Daily indicators are hitting the sweet spots. If we can just get her above the 50MA, we may be looking at the start of another bull run.
Needs to push just a little higher. Levels on watch!
CRON - Bullish divergence observation.CRON - I am bullish here. Significant downtrend lately. Nice piercing candlestick with a nice looking RSI. MACD/Price action Bullish divergence. Might need a bit more time but I am watching for break of the downtrend and hold for confirmation.
* I really like this setup.
CRON 1D. Possible Bull Run1. RSI is GOOD Undersold
2. Stochastic is GOOD Undersold
3. Possible Bounce Of 150 MA its GOOD
4. Volume not so GOOD we need more volume.
5. Earnings Announced on march 9th, $0.48 per share prediction was -$0.04 its surprise by $0.52 (1471.43%) Very Good.
6. 50 MA above 150 MA its good.
Key resistance at $17.59 and $19.94 because its a double wall Fibonacci Levels, hard to go true.
I think will go up hit resistance at around $17.59 than go down to support level $14.03 bounce up and go to at least $19.94 or if breaks true $17.59 Level this time than CRON will go strait to $19.94.
or if mr. President will twit some bad news for market than little drop expected before going up...
CRON breakout of descending wedge, starting new uptrendCRON broke-out today on solid volume and a strong close. Expecting a new uptrend cycle
CRON Weekly AnalysisThe high 2 bull flag from a few weeks ago failed, but the selling pressure is not that strong and is weakening (tails, micro double bottom). This week ticked above last week, triggering a second entry and EMA gap bar, but last week was a doji bear bar, making for a weak buy signal. If this week closes on or near its high, it would be a better signal. There are still open bull gaps below. The bears need strong consecutive bear bars an to fill the 10.50 gap before they have a chance of taking control.
Cronos Group LONGNASDAQ:CRON
Looking for a long on Cronos Group. Stoch RSI cross is the buy signal. Recently Marijuana was legalized in Canada and this could pose for a good long term investment.
CRON: Surprisingly Profitable Earnings CallWell, CRON joins the few pot stocks that have broken out the black in, and it looks like they're going to pull a reversal back from $14 for significant upside if their previous high of $25 is a long term resistance point. The technicals are still bearish, so you might want to wait for some confirming momentum, but don't wait too long and let this rally pass you by.
CRON Watching that lineCRON has been beat into submission. Its down to the 618 the 200 and structure. Like to see it break the descending trend line and hold.
Probably will need to at least double bottom here to do it.
CRON BUY TP_25.23_48.15%_8.20pips_SL_15.35_9.86%_1.68pipsCRON BUY TP_25.23_48.15%_8.20pips_SL_15.35_9.86%_1.68pips
CRON: After spending a lot of time counting wave 4, it turns outAs soon as wave 4 overlap wave 1, the ED was set in stone.
What's Next After CRON Quarterly Release? Even with a report of reduced enthusiasm for legalized pot in Canada, Cronos Group (CRON) reported a positive earnings surprise of $0.36 (US) versus estimates for a $0.03 (US) loss. Revenues continue to expand however, issues with distribution, packaging and licensing resulted in slower quarter-over quarter growth. As a result, Cronos Group's stock dropped 12.5% in yesterday's trading session.
FlashPoint Trading Academy entered a long position at $14.17 on this weakness as the stock has reached initial support at its previous breakout point. Further support can be found at its 250 EMA. Our initial target is set at $17.30 and stop-on-close below $13.15. This represents a 1:3 Risk:Reward.
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$CRON They highs have worn off in Cannabis. Like all others within the sector CRON has hit a brick wall as investors have rung the register and moved onto more stable sectors. Commentators have referenced the Cannabis stocks as a bubble sector and looking at the charts it is difficult to argue. Cronos by no fault of its own, has reached a crazy valuation while still in the development stages. This earnings report may give a spike in revenue but also a spike in costs which may trigger more selling. On the positive side it could be suggested that the stock is already washed out after months of continual selling, the declining volume profile is a good gauge.
Company Description
Cronos Group, Inc. engages in the production and sale of cannabis in federally legal jurisdictions, including Canada and Germany. Its portfolio includes Peace Naturals, Original BC (OGBC) and Whistler Medical Marijuana Company (WMMC).
CRON Weekly AnalysisCRON formed a high two bull flag which triggered last week. Instead of resuming the bull trend, prices are continuing lower. There is a bear gap which is still open at $17.80. There has been some decent selling pressure over the past 8 or so weeks with very little buying pressure since the parabolic wedge reversal. The bears will likely get a larger second leg down before the bulls resume buying. If the bears are able to fill all of the bull gaps from the January rally, it will increase the likelihood of a transition into a trading range and test of the $7 tight trading range.
CRON Setup Looking at the larger time frames, you can see that we have retested the 50 week MA multiple times during this bull run. What I would like to see for an ideal setup is a back test of the support line at around $13, which if timed right would coincide with the 50 week MA.
MACD is still trending up, and the RSI is approaching a significant support zone. The current bounce in price action has yet to indicate any kind of real strength, and it looks as if we are just in a bear flag. With this in mind, I believe that we will drop into the Buy Zone highlighted, where I will be looking to scale in some Long positions.
Thanks for viewing, good luck trading!
